Steve Defaults on a Car Loan Secured by His Car

question 58

Multiple Choice

Steve defaults on a car loan secured by his car and guaranteed by both Sam and Dave. Subrogation would allow Sam, who paid Steve's full obligation to:

• A) repossess the car.
• B) collect from Dave.
• C) collect from Steve.
• D) All of these.

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Definitions:

Tropical Rain Forest

A dense, warm, wet forest biome found near the equator, known for its high biodiversity and significant rainfall.

High Annual Rainfall

A climatic condition where a region receives a significantly large amount of precipitation over the course of a year.

Freezing Temperatures

A temperature at or below the freezing point of water, 0°C (32°F), where liquid water turns into ice.

Prevailing Wind

The wind direction most often observed at a particular location over a certain period of time.